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News Releases and Updates

Investor Alert: ASC warns public about oil and gas investment scheme

Apr 25 2012

The Alberta Securities Commission (ASC) is issuing an investor alert warning the public about an investment scheme that is using a legitimate oil and gas company as bait to separate Albertans from their money illegitimately. The tactics in the scheme involve “spoofing” or masquerading as a legitimate website for the purposes of raising funds through the selling of securities. The supposed investment opportunity appears almost identical to a real but different company that is in the oil and gas exploration and production industry.

The ASC has received notice that investors are being approached by representatives from Offshore Drilling Inc. to purchase shares in Arsenal Energy Inc., a reporting issuer in Alberta (www.arsenalenergy.com).

Albertans should be aware that Offshore Drilling is mirroring Arsenal Energy’s content and contact information on its website www.offshoredrilling.us.tc, without permission. As well, the listed owner of the company, Larry Stevens John, and Offshore Drilling are not registered to sell securities.

The ASC continues to investigate the parties responsible for this “spoofing” website. In the meantime, we urge the public to be wary.

Anyone who has knowledge about this investment offering or this type of investment scheme is asked to contact ASC Public Inquiries at 403-355-4151, toll free 1-877-355-4488 or email inquiries@asc.ca.

The Alberta Securities Commission (ASC) is the regulatory agency responsible for administering the province’s securities laws. It is entrusted to foster a fair and efficient capital market in Alberta and to protect investors. As a member of the Canadian Securities Administrators, the ASC works to improve, coordinate and harmonize the regulation of Canada’s capital markets.